Phillips Edison & Company, Inc. (NASDAQ:PECO) Hits New 1-Year High – What’s Next?

Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $39.83 and last traded at $39.83, with a volume of 117676 shares trading hands. The stock had previously closed at $39.33.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PECO. Compass Point boosted their price objective on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target for the company in a research note on Wednesday, November 13th. Mizuho raised their price objective on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Finally, Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.43.

Phillips Edison & Company, Inc. Stock Up 0.0 %

The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 85.50, a PEG ratio of 3.61 and a beta of 0.57. The firm has a 50 day moving average of $37.79 and a 200 day moving average of $35.27.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.52). The company had revenue of $165.50 million for the quarter, compared to analyst estimates of $157.20 million. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business earned $0.58 EPS. Equities analysts expect that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.1025 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.13%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 267.39%.

Institutional Investors Weigh In On Phillips Edison & Company, Inc.

Hedge funds have recently added to or reduced their stakes in the company. Synovus Financial Corp bought a new position in shares of Phillips Edison & Company, Inc. in the 3rd quarter worth $376,000. Arete Wealth Advisors LLC lifted its stake in shares of Phillips Edison & Company, Inc. by 3.1% in the third quarter. Arete Wealth Advisors LLC now owns 28,392 shares of the company’s stock valued at $1,064,000 after buying an additional 866 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Phillips Edison & Company, Inc. by 3.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 109,531 shares of the company’s stock valued at $4,131,000 after buying an additional 3,797 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Phillips Edison & Company, Inc. by 0.6% during the third quarter. Geode Capital Management LLC now owns 3,190,836 shares of the company’s stock worth $120,347,000 after acquiring an additional 19,205 shares in the last quarter. Finally, M&T Bank Corp increased its position in shares of Phillips Edison & Company, Inc. by 2.9% during the third quarter. M&T Bank Corp now owns 10,883 shares of the company’s stock worth $410,000 after acquiring an additional 307 shares in the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.